Trust Stamp FY2023: Rev $4.56M (-15%), net loss per share $1.07 vs $2.55, operating loss cut 37%

T Stamp Inc

Revenue $4.56M, down 15% from $5.39M; net loss per share $1.07 improved from $2.55 prior year.
Operating loss reduced to $7.64M from $12.09M; SG&A cut 32.5% ($4.05M) and cost of sales down 48.8%.
Financial institution customer base grew fivefold to 43; recurring revenue expected to begin in 2024.
Raised $10.32M net equity in 2023 via multiple securities purchase agreements with institutional investors.
Launched AI-powered age-estimation product; entered two joint ventures and a teaming agreement with a government contractor.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

T Stamp Inc reported year ended December 31, 2023 results: revenue $4.56 million, EPS basic and net loss per share of $1.07.

Period: year ended December 31, 2023
Revenue: $4.56 million
EPS: basic and net loss per share of $1.07
Result: reported results

Exact text from the filing

Our pre-signalled reduction in net revenue from $5.39 million for year ended December 31, 2022 to $4.56 million for year ended December 31, 2023 resulted from the end of the ICE pilot and our new focusing on SaaS sales, and was more than offset by our reducing selling, general, and administrative expenses by $4.05 million, or 32.53%, including a 48.79% reduction in our cost of sales. Our operating loss for year ended December 31, 2023 was $7.64 million, reduced from $12.09 million for the period ended December 31, 2022 with a corresponding reduction in our net loss. This resulted in a basic and net loss per share of $1.07 for year ended December 31, 2023 compared to $2.55 for year ended December 31, 2022.

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Source: SEC EDGAR

accession 0001718939-24-000038

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